Dropbox Co-Founder Claims JPMorgan Advisor Cost Him over $225M

thinkadvisor.com

17 pointsLopRabbit2 comments

I’m not sure what is common in super high wealth folks like this but it seems to me that 0.25% fee to be told to invest in “index funds and high cap tech companies” is probably not worth it.

That’s not to say the guy wasn’t defrauded, just that you pay for expert services, you expect more than the first tip you get on Reddit.

These types of "financial advisers" are the Gucci bags of the investment world.

Basically you pay them a lot of money just so they puff you up on the phone and make you feel important.

Someone will come in and argue, "but they can help mitigate risk, and and alignment with financial goals and timelines." ... Yeah, and so does just investing in index funds yourself and reducing your "risk" by allocating some % into bonds.

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